Keeping Divorce Out of the Family Business

If you are a business owner who has decided to end your marriage or your spouse has approached you about divorce, you need an attorney. It is important to work with someone who not only understands the divorce process but who also knows what it takes to protect a family business.

The approach to dealing with a family business and keeping your divorce from affecting the business depends on your specific arrangement. If you own a business with your spouse, there is little chance the divorce will not affect your business arrangement, even in a minor way. If you own a business separate from your spouse and you want to make sure your divorce does not damage the business, you will be taking an entirely different approach.

Owning a Business with Your Former Spouse

If you and your soon-to-be-ex owned a business together, there are a few things you can do if your marriage ends in divorce:

Your first option is to continue co-owning the business and running it together. Your divorce might have very little bearing on the business, as long as you are still able to behave professionally and maintain a successful business. You will both keep your interest in the business and remain in contact with one another as business owners.

Your second option is to buy out your spouse’s half of the business or have him or her do, so for your half of the business. In this case, the business would be considered an asset in the divorce and would be treated as such. You will need to have the business valued by an appraiser and then create an arrangement that accommodates the buy-out in the divorce settlement.

Your third option is to sell the business and split the process. It would be divided like any other asset according to your divorce settlement.

No matter which of these three options you choose, if you co-own a business with your spouse and you are moving forward with divorce, it is important to speak to an attorney who can help you through the process.

Owning a Family Business that is Separate from Your Spouse

Your soon-to-be-former spouse cannot force you to sell a business you own outright or with other family members. However, the income you earned from that business will likely be part of the divorce settlement, at least in part.

As a business owner, it is essential you work with an attorney who understands the process of dividing assets in divorce and protecting what is rightfully yours. Your ex will have some claim to your assets, but you want someone to help you mitigate the damage as much as possible.

No matter your situation, you are getting divorced; it is important for you to work with an experienced divorce attorney who will help you make decisions and guide you through the process. If you are a business owner dealing with the end of your marriage, the support of an experienced attorney is even more important. Peter Wifler can help. For more information or to schedule a time to speak to Peter about your situation, contact him at 847-438-6153.

Peter Wifler

The Advantages of Holistic Divorce

A holistic divorce is one in which the parties involved are viewed as a family with emotions and not just a legal matter. A holistic approach to divorce puts the couple in a place where they can resolve their issues without it turning into a battle.

Holistic divorce works so well because it does not include all the stiffness that waiting for a court hearing might bring and most of the time, the can couple separate amicably, without ever making it into an actual courtroom.

Divorce can be a lethal onslaught on the emotions of not just the spouses but everyone involved. It is not just a legal issue to be resolved as the effects of divorce go beyond the banging of the gavel. This is why our divorce lawyers Berkley are very concerned with the healing of the family while they navigate this rough patch. Whatever the issues are, be rest assured that you are in safe hands with our divorce experts. We can help you find a positive resolution.

How you benefit from holistic divorce

Couples that elect for a holistic approach to their divorce are able to benefit from several advantages. These include the following:

  • If there are any children involved, a holistic divorce is the best because it helps the parents to be calm. Calm parents tend to make rational and good decisions for their kids instead of leaving them to the judge who does not know these kids. The parents are often in the best position to determine what is in the kids’ best interest.
  • A divorce lawyer Berkley who is also trained as a therapy or life coach will provide the double advantages of expert legal advice and practical life tips. This will help the couples tackle any challenges they have, either emotional or legal.
  • A holistic approach ensures that couples can take good and adequate care of themselves in all ramifications: mentally, emotionally, and physically. This will make them feel better about the whole process and be more disposed to a collaborative outcome.
  • A holistic approach is also less expensive than litigation. It does not last nearly as long, there are no confrontations, the couples feel much better and it is cost-efficient.
  • Divorce is not just a matter of litigation and files. When couples get their lawyers and march to the courtroom, it can be easy to lose sight of the fact that emotions are involved. But it is not the best way to heal, a holistic approach helps with the healing.

Considering how divorced homes can negatively affect children and how divorces tend to leave one or both parties in debt, the holistic approach can be a real lifesaver. If you do decide to opt for holistic divorce, you can completely count on our divorce lawyers Berkley. If you would like to know more or explore the specific advantages of a holistic divorce to your circumstances, reach out to us for a free initial consultation today.

Sharon Easley

Benefits of Mediation for Student Loans

It is common to take a student loan to pay the costs of attending college. However, these debts can often take years to pay off, and it may create a situation where you are no longer able to afford loan repayments, which can be very stressful. To be sure that you get the best resolution, you may want to try meditating with lenders.

Many companies will be open to the mediation process, as it is much more affordable than going to court. It will also allow them to deal with the matter privately, avoiding any negative publicity that the case may create. Depending on which state you are in, there may be a mediation process already in place to help you deal with these disputes. If not, your lawyers could help arrange one on your behalf.

There are multiple reasons why the mediation process may benefit you. First, this process is focused on creating an arrangement that will suit both parties. For example, you could reach a compromise where you agree to lower monthly payments. Because of this, you could get the case resolved more promptly, which will reduce the amount of stress and uncertainty caused by the dispute. Also, the process will be more informal than attending court, which should help you feel more relaxed, making it easier for you to present your case. As with most legal processes, you may want to have a lawyer present. They can help you obtain a satisfactory outcome, and make sure that you understand any obligations that you will face. However, it is often much more affordable for them to prepare for a mediation process, allowing you to reduce the costs involved in resolving the dispute significantly.